Get the latest gossip

ProSiebenSat.1 Full-Year Profit Down $109M In “Difficult Economic Environment” But Earnings Up In Q4

ProSiebenSat.1 Media has posted full-year earnings down €100M ($109), but its recent recovery is continuing with Q4 income up "significantly."

However, ProSieben noted a “positive trend” continued to emerge here, with ad revenues increasing slightly year-on-year and digital and smart advertising business, including streaming Joyn, growing “dynamically in the important Christmas period, as well as for the full year.” ProSieben also noted the sale of Red Arrow Studios’ U.S. production business to The North Road Company in July 2022 had a “significant effect” on year-on-year revenue comparisons for entertainment. “Even though the macroeconomic environment remains challenging, we expect advertising revenues in the German-speaking region to develop positively in 2024,” said Martin Mildner, Group CFO of ProSiebenSat.1 Media.

Get the Android app